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A product is marked at $500 and is sold at a 10% discount. What is the selling p

Practice Questions

Q1
A product is marked at $500 and is sold at a 10% discount. What is the selling price?
  1. $450
  2. $475
  3. $500
  4. $550

Questions & Step-by-Step Solutions

A product is marked at $500 and is sold at a 10% discount. What is the selling price?
Correct Answer: 450
  • Step 1: Identify the marked price of the product, which is $500.
  • Step 2: Calculate the discount amount by finding 10% of the marked price. To do this, multiply 500 by 0.10 (which is 10% in decimal form).
  • Step 3: The discount amount is 500 * 0.10 = $50.
  • Step 4: Subtract the discount amount from the marked price to find the selling price. So, $500 - $50 = $450.
  • Step 5: The final selling price of the product is $450.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount.
  • Subtraction in Pricing – Applying the calculated discount to find the final selling price.
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